After Jay-Z resigned from his post as Def Jam El Presidente, we all wondered what was next for the business-minded rap mogul. Well, Hov has decided to lay the rumors to rest by announcing a $150 million deal with concert giant Live Nation. According to the New York Times, the package comes with distribution of future albums, tour sponsorship, and endorsements for the next 10 years. The partnership will fall under a new company named Roc Nation, which will include label management and publishing.
"In a way I want to operate like an indie band," Jay-Z said in a New York Times interview. "Play the music on tour instead of relying on radio. Hopefully we’ll get some hits out of there and radio will pick it up, but we won’t make it with that in mind."
Sounds like a smart move. Don't be surprised if other hip-hop bigwigs decide to follow suit.
Photo © Stephen Lovekin/Getty
Comments